Thiele Outraged by Exxon Mobilís Record-Breaking Profits

Statement by Assemblyman Fred W. Thiele, Jr. (R,I,C,WF-Sag Harbor)

February 4, 2009

It was only a few short months ago when our gas prices were teetering towards the $5 mark. The summer of 2008 saw the price of fuel continually rise to the point where people had to stay home rather than go on vacation because they could not afford the fuel. During this time of astronomical gasoline prices, Exxon Mobil reported a profit of $45.2 billion, which broke the companyís own record set in 2007 of $40.6 billion. I am outraged that Exxon Mobil was making record-breaking profits. Exxon Mobil should be lowering gasoline and energy prices further during this current recession. Our economy would benefit from reasonable energy prices as well as the middle-class New Yorkers who are suffering while big oil is raking in record profits.